Common use of Lender's Rights, Duties, and Liabilities Clause in Contracts

Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither the Lender nor any of its officers, directors, employees or agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of any carrier, forwarding agency or other Person whomsoever, all of which shall be at the Borrower’s sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. The Lender may (but shall not be required to), without notice to or consent from the Borrower, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the Borrower.

Lender's Rights, Duties, and Liabilities. The Each Borrower assumes ---------------------------------------- all responsibility and liability arising from or relating to the use, sale or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of by any warehouseman, carrier, forwarding agency or or, other Person person whomsoever, all of which shall be at the Borrower’s 's sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. The After the occurrence of an Event of Default that has not been cured or otherwise waived by Lender, the Lender may (but shall not be required to), without notice to or consent from the Borrower, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, cash or credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the BorrowerObligations.

Lender's Rights, Duties, and Liabilities. The Borrower Each Option Care Person assumes all responsibility and liability arising from or relating to the use, sale sale, or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither the Lender nor any of its officers, directors, employees or agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of any carrier, forwarding agency or other Person whomsoever, all of which shall be at the Borrower’s sole risk. The Obligations shall not be affected by any failure of any Lender or the Lender Lenders' Agent to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower any Option Care Person from any of the Obligations. The Lender Following the occurrence of an Event of Default, the Lenders' Agent may (but shall not be required to), and at the direction of the Majority Lenders shall, without notice to or consent from the Borrowerany Option Care Person, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower any Option Care Person for the Obligations or under this Agreement or any other agreement now or hereafter existing between the any Lender and any Option Care Person or between the BorrowerLenders' Agent and any Option Care Person; provided that to the extent that applicable law prohibits the Lenders' Agent from collecting any payment directly from a Government Account Debtor, the Lenders' Agent shall not collect such payment directly from such Government Account Debtor.

Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale sale, or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of or any warehouseman, carrier, forwarding agency or other Person person whomsoever, all of which shall be at the Borrower’s 's sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. The Lender may (but shall not be required to), without notice to or consent from the Borrower, xxx upon sue xxxn or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the Borrower.

Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale sale, or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of or any warehouseman, carrier, forwarding agency or other Person person whomsoever, all of which shall be at the Borrower’s 's sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. The Subject to the terms of the Intercreditor Agreement, the Lender may (but shall not be required to), without notice to or consent from the Borrower, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the Borrower.

Lender's Rights, Duties, and Liabilities. The Each Borrower assumes all responsibility and liability arising from or relating to the use, sale sale, or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of or any warehouseman, carrier, forwarding agency or other Person person whomsoever, except to the extent resulting from the gross negligence or willful misconduct of the Lender, its officers, directors, employees or agents, all of which shall be at the such Borrower’s 's sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the any Borrower from any of the Obligations. The Lender may (but shall not be required to), without notice to or consent from the applicable Borrower, xxx upon sue xxxn or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the such Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the such Borrower.

Lender's Rights, Duties, and Liabilities. The Borrower (a) Grantor assumes all responsibility and liability arising from or relating to the use, sale sale, license or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither the Lender nor any of its officers, directors, employees or agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of any carrier, forwarding agency or other Person whomsoever, all of which shall be at the Borrower’s sole risk. The Guaranteed Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower Grantor from any of the Guaranteed Obligations. The Following the occurrence and during the continuation of an Event of Default, Lender may (but shall not be required to), without notice to or consent from the BorrowerGrantor, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower Grantor for the Guaranteed Obligations or under this the Loan Agreement or any other agreement now or hereafter existing between the Lender and Grantor. (b) It is expressly agreed by Grantor that, anything herein to the Borrowercontrary notwithstanding, Grantor shall remain liable under each of its contracts and each of its licenses to observe and perform all the conditions and obligations to be observed and performed by it thereunder. Lender shall have no obligation or liability under any contract or license by reason of or arising out of this Security Agreement or the granting herein of a Lien thereon or the receipt by Lender of any payment relating to any contract or license pursuant hereto, except in connection with Lender’s gross negligence or willful misconduct. Lender shall not be required or obligated in any manner to perform or fulfill any of the obligations of Grantor under or pursuant to any contract or license, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any contract or license, or to present or file any claims, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. (c) Lender may at any time after a Default or an Event of Default has occurred and be continuing (or if any rights of set-off (other than set-offs against an Account arising under the contract giving rise to the same Account) or contra accounts may be asserted with respect to the following), without prior notice to Grantor, notify Account Debtors, and other Persons obligated on the Collateral that Lender has a security interest therein, and that payments shall be made directly to Lender. Upon the request of Lender, Grantor shall so notify Account Debtors and other Persons obligated on Collateral. Once any such notice has been given to any Account Debtor or other Person obligated on the Collateral, Grantor shall not give any contrary instructions to such Account Debtor or other Person without Lender’s prior written consent. (d) Following the occurrence and during the continuance of an Event of Default, Lender may at any time in Lender’s own name or in the name of Grantor communicate with Account Debtors, parties to contracts and obligors in respect of Instruments to verify with such Persons, to Lender’s satisfaction, the existence, amount and terms of Accounts, payment intangibles, Instruments or Chattel Paper. If a Default or Event of Default shall have occurred and be continuing, Grantor, at its own expense, shall cause the independent certified public accountants then engaged by Grantor to prepare and deliver to Lender at any time and from time to time promptly upon Lender’s reasonable request the following reports with respect to Grantor: (i) a reconciliation of all Accounts; (ii) an aging of all Accounts; (iii) trial balances; and (iv) a test verification of such Accounts as Lender may reasonably request. Grantor, at its own expense, shall deliver to Lender the results of each physical verification, if any, which Grantor may in its discretion have made, or caused any other Person to have made on its behalf, of all or any portion of its Inventory.

Lender's Rights, Duties, and Liabilities. The Borrower and each LSB Guarantor Subsidiary assumes all responsibility and liability arising from or relating to the use, sale or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of by any warehouseman, carrier, forwarding agency or or, other Person person whomsoever, all of which shall be at the Borrower’s 's sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. The After the occurrence of an Event of Default that has not been cured or otherwise waived by Lender, the Lender may (but shall not be required to), without notice to or consent from the BorrowerBorrower or any LSB Guarantor Subsidiary, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, cash or credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the BorrowerObligations.

Lender's Rights, Duties, and Liabilities. The Each Borrower assumes all responsibility and liability arising from or relating to the use, sale or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of by any warehouseman, carrier, forwarding agency or or, other Person person whomsoever, all of which shall be at the Borrower’s 's sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. The After the occurrence of an Event of Default that has not been cured or otherwise waived by Lender, the Lender may (but shall not be required to), without notice to or consent from the any Borrower, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, cash or credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the BorrowerObligations.

Lender's Rights, Duties, and Liabilities. The Borrower and each member of the GTS Consolidated Group assumes all responsibility and liability arising from or relating to the use, sale sale, or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of or default of any warehouseman, carrier, forwarding agency or other Person person whomsoever, all of which shall be at the Borrower’s 's sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. The Lender may (but shall not be required to), without notice to or consent from the BorrowerBorrower or any member of the GTS Consolidated Group, xxx sue upon or otherwise collect, extend the time for payment of, modify moxxxy or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower or any member of the GTS Consolidated Group for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the BorrowerBorrower or any member of the GTS Consolidated Group.

Lender's Rights, Duties, and Liabilities. The Each Borrower assumes all responsibility and liability arising from or relating to the use, sale sale, or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of or any warehouseman, carrier, forwarding agency or other Person person whomsoever, all of which shall be at the Borrower’s Borrowers' sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the either Borrower from any of the Obligations. The Lender may (but shall not be required to), without notice to or consent from the either Borrower, xxx upon sue xxxn or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the either Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the either Borrower.

Lender's Rights, Duties, and Liabilities. Lender's Rights, The Borrower assumes ---------------------------------------- Borrowers assume all responsibility and liability arising from or relating to the use, sale sale, or other disposition of the Collateral. To the extent that the Lender has taken possession of any of the Collateral pursuant to its rights under this Agreement, neither Neither the Lender nor any of its officers, directors, employees or employees, and agents shall be liable or responsible in any way for the safekeeping of any of the Collateral, for any act or failure to act with respect to the Collateral, for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of any warehouseman, carrier, forwarding agency or other Person person whomsoever, all of which shall be at the Borrower’s Borrowers' sole risk. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Lender’s Liens Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the either Borrower from any of the Obligations. The Lender may (but shall not be required to), without notice to or consent from the BorrowerBorrowers, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower Borrowers for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the either Borrower.